Interventional device firm Guidant reported record 2004 fiscal third-quarter revenues of $924.5 million, a $4.4 million increase from the $920.1 million in sales posted in the same period in 2003.
For the quarter (end-September 30), the Indianapolis-based firm had net income of $154 million, a strong showing compared with the $129 million in net income for the third quarter of 2003.
Guidant said foreign currency translations favorably impacted revenue by $16 million. The firm's revenue growth was led by sales of implantable defibrillators, which were up 16%. Sales of cardiac surgery, biliary, peripheral, and carotid systems grew 41%. However, stent revenue dropped 38% when compared with the same period last year, Guidant said.
Guidant also reported sales and earnings guidance for the fourth quarter of $925 million to $965 million, and the company's full-year 2004 sales guidance increased to $3.72 billion to $3.76 billion. The firm projected full-year 2005 sales of $3.9 billion to $4.1 billion.
By AuntMinnie.com staff writers
October 21, 2004
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